EEG conducted its first CSR network workshop for the year with an impetus of encouraging greater corporate responsibility in the business sector especially in the midst of the financial crisis.
The crisis which has affected the region in various ways has given a bleak economic outlook for people and businesses. In other parts of the world stimulus packages are being prepared to aid ailing sectors and prevent further income loss, bankruptcies and job cuts.
At the moment, there is much speculation on how the region is eventually affected by the crisis however there is reassurance from the government that the effect is minimal and manageable. The government in fact injected fresh funds to banks and its stock markets to stimulate renewed investment climate. The challenge therefore lies within the coping capacity of local and international companies based in the country. More than being liquid and beyond its ability to dodge the impact of the crisis, there is a need to integrate greater sustainability practices in the core strategy of businesses. Such a move will ensure quick recovery and sustainability at the same time.
Mr. Ralph Thurm, a well known sustainability writer and current Director of Sustainability Strategies of Deloitte was the main speaker of the workshop. He explained the dual function of sustainability strategies to lessen the impact of a crisis on a company as well as increase greater competitiveness of the company in normal business climate.
He also provided an insight on the manner business will be undertaken in the next couple of years after the credit crisis. Mr. Thurm gave a detailed nine point guide for companies to assess, re-plan and rebound towards recovery. He noted the importance for a company to understand the current business climate and define a long term vision while keeping close its core business strategies. Mr. Thurm emphasized the need to prioritize corporate responsibility and sustainability strategies and to use the GRI G3 guidelines for its sustainability reporting.
Mr. Thurm has worked for the Global Reporting Initiative, mainly in the area of business engagement and development. Mr. Thurm worked for Siemens as head of its Sustainability Council and was advisor to the German Federation of Industries for the World Summit on Sustainable Development in Johannesburg.
The workshop also featured several local perspectives on CSR beginning with the presentation of a case study on COP reporting by Mr. Samuel Keehn of Energy Management Services (EMS). The CoP or Communication on Progress is the corporate reporting tool adopted for UN Global Compact member organizations, a format which is close to the GRI G3 guidelines. His presentation was followed by Ms. Anneliese Hodge, CSR Manager of Dubai Chamber of Commerce and Industry who focused on the reasons why CSR remains relevant today.
EEG CSR Advisor Hope Sherwin gave her view on the relevance and direction of CSR in the country and the region given the current challenges. She likewise gave a summary of the lessons from the insights of speakers and participants.
The speakers were unanimous in saying that CSR will have a great role in the recovery from the financial crisis. The question remains whether business leaders would make that critical move to adopt CSR or remain vulnerable to economic upheavals such as the current credit crisis. The UN Global Compact, the world's largest corporate citizenship initiative, has likewise called for greater adherence to its 10 principles with emphasis on greater transparency in corporate governance. EEG is the focal point of the UN GC in the GCC states. The UN GC advised a shift in focus from the virtual economy to the real economy while fostering sustainable growth from short-term profit maximization to long-term value creation
Mrs. Habiba Al Marashi, in her opening speech said, “There is now a new impetus to drive forth the value of CSR in the region. EEG’s CSR Network has and will play an important role in promoting CSR in the region through its programs, while entering different levels of involvement and partnerships this year… I am confident that these challenges can all be solved by creative thinking and mutual cooperation.”
The one-day workshop was attended by a cross-section of EEG’s CSR founding membership and other guests. The event is part of EEG’s effort to advocate for greater corporate social responsibility in the business sector. At the moment the EEG-CSR Network founding membership has risen to 49 from a starting membership of 8 companies in 2004.
The workshops are events organized by EEG several times a year to feature relevant and timely issues, concerns and developments on corporate responsibility and sustainability.
The Emirates Environmental Group (EEG) is a voluntary, non-government organisation (NGO) devoted to protecting the environment through means of education, action programs and community involvement. EEG is actively encouraged and supported by concerned local and federal government agencies. It is the first environmental NGO in the world to be ISO 14001 certified and the only organization of its kind in the UAE with accredited status to the United Nations Convention to Combat Desertification (UNCCD). In 2005 EEG was awarded accredited status to the United Nations Environment Programme (UNEP)’s Governing Council. It is also a member of the United Nations Global Compact and is a focal point for the Global Compact in the GCC States. EEG is also a member of the International Union for Conservation of Nature (IUCN). Emirates Environmental Group is open to men and women of all nationalities, as well as to public and private organizations, academic establishments and international institutions.
For more details
Contact: Emirates Environmental Group Tel: 04-3448622 Fax: 04-3448677; email: eeg@emirates.net.ae ; Website: www.eeg-uae.org
